Briefing

The Briefing: Gupshup Raises $100M, Oda Bags Big Round For Groceries

The Briefing

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Gupshup raises $100M

San Francisco-based Gupshup, a provider of conversational messaging tools, announced it has raised $100 million in fresh funding from Tiger Global Management.

The financing sets a valuation of $1.4 billion for Gupshup, which says its API currently enables over 100,000 developers and businesses to build messaging and conversational experiences, used in over 6 billion messages per month.

Gupshup has not raised a funding round since 2011, with total prior funding of around $44 million, per Crunchbase data. The company says it closed out 2020 with an annual revenue run rate of approximately $150 million.

— Joanna Glasner

Software

Redis Labs raises $110M Series G: Database platform Redis Labs has closed a $110 million Series G funding round led by Tiger Global. The round brings the 10-year-old, Mountain View-based company’s valuation up to $2 billion.

— Joanna Glasner

Tasktop tacks on $100M: Vancouver-based Tasktop closed a $100 million round led by Sumeru Equity Partners, with  management and existing investors also participating. Tasktop’s platform allows companies to better manage the process of building their software, and is used by half of Fortune 100 companies.

Founded in 2007, the company has raised $129.5 million, according to Cruchbase.

— Chris Metinko

Alyce raises $30M round: Boston-based Alyce closed a $30 million Series B led by General Catalyst. Previous investors Boston Seed Capital, Golden Ventures, Manifest, Morningside and Victress Capital also participated in the round. The company, which provides a SaaS platform to help personalize corporate gift-giving, has raised a total of $48 million.

— Chris Metinko

Fintech and e-commerce

Norway’s Oda bags $265M for grocery delivery: Oda (formerly Kolonial), a Norwegian online grocery delivery provider, raised 223 million euros ($265 million) in a funding round led by  Prosus NV and SoftBank. The company plans to use the funds for international expansion.

— Joanna Glasner

TipRanks banks $77M: Israel-based TipRanks, offering financial analytics services, secured a $77 million investment led by Prytek. The company reported that it has more than 4 million monthly users and saw a 300 percent increase in its subscription-based services last year. Founded in 2012, TipRanks’ stock research platform makes alternative databases available to retail traders using natural language processing to analyze the performance of the professional analysts for its services.

Elevate Brands bags $12.5M: Elevate Brands, which acquires and operates Amazon third-party businesses, said it raised an additional $12.5 million in funding from unnamed existing investors. The additional investment brings the company’s funding total to over $67.5 million since being founded in 2016, according to Crunchbase data. Elevate Brands said it will acquire its 20th brand this month. It typically acquires three to four new brands per month and is on pace to acquire 100 brands by the end of 2022, as well as on track to hit more than $150 million in revenue by the end of 2021. In addition to its New York headquarters, the company recently opened a second location in Austin.

Often called rollup companies or aggregators, companies like Elevate Brands purchase thriving private labels and direct-to-consumer e-commerce brands that sell on marketplaces such as Amazon and Shopify, and then use their expertise and capital to take the brand to the next level. These companies raised more than $2.3 billion in known venture capital funding this year, according to Crunchbase data.

Paymob inks $15M: Egypt-based Paymob, a digital payments provider, announced a $15 million Series A round of funding, led by Global Ventures, to give the company total funding of $18.5 million since it was founded in 2015, Paymob said.

Abacum secures $7M: Financial planning platform Abacum, based in Spain, raised $7 million in seed funding led by Creandum. The company was founded in 2020 and enables finance teams to make better and faster decisions by automatically updating financial models using real-time data obtained through its direct integrations with the software used by other departments.

— Christine Hall

Health and wellness

Moxie raises $6.3M: Virtual fitness platform Moxie announced a $6.3 million seed round led by Resolute Ventures. The new round brings the New York-based company’s total funding since launching in October 2020 to $8.3 million, which includes a $2 million seed round, according to Crunchbase data. The investment will go toward development of user experience and trainer support, as well as the launch of new programs to provide instructors with health benefits and the ability to form small businesses on the platform.

— Christine Hall

New fund

Index Ventures dedicates $200M to seed investments: San Francisco venture capital firm Index Ventures announced its new fund, Index Origin, a $200 million dedicated seed fund that will focus on three core areas of support: recruitment, early adopting customers and access to the Index family of founders, operators and mentors. Index Origin brings the total amount raised by the firm in the last 12 months to $2.2 billion across three funds.

— Christine Hall

Illustration: Dom Guzman

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